In the latest market report published by Credence Research “Functional Food Ingredients Market – Growth, Future Prospects, and Competitive Analysis 2016 – 2023,” the functional food ingredients market has been estimated to be valued at US$ 2,182.7 Mn by the end of 2016, and is expected to reach US$ 3,442.9 Mn by 2023, expanding at a CAGR of 6.7% from 2016 to 2023.

Market Insights

Functional foods are generally considered as whole, fortified or enhanced food that delivers various health benefits when consumed at a significant level as a part of different diet on a regular basis. The functional food are foods that have a possibly positive impact on health apart from basic nutrition. The Functional food ingredients can be stated as an ingredient that have the ability to add various benefits to the end product. Functional food ingredients are usually contemplated as such ingredients that are most likely to be consumed as a part of a standard diet and that comprises of biologically active constituents, which proposes the potential of enhanced health benefits. Some of the functional food comprises of food that comprises exact vitamins, minerals, fiber, fatty acids, phytochemicals, and others. Rising consumer awareness related to health, increasing demand for fortified foods as well as number of gym goers is anticipated to expand the growth of functional foods ingredients market over the period 2016-2023.

Increasing significant consumption of healthy food all over the world has strengthened the demand for functional food ingredients in the market. Apart from this, emergence of various new and innovative products is anticipated to foster the growth of functional food ingredients market over the forecast period. Changing lifestyle and fast living along with hectic work schedule among both men and women is anticipated to positively impact the growth of the market over the forecast period.

Competitive Insights:

Functional food ingredients market is segmented on the basis of type such as vitamin, protein, mineral, probiotic and prebiotic, fatty acid, and others. In 2015, vitamin segment contributed the highest revenue share of the total functional food ingredients market. The fatty acid segment is anticipated to expand at a robust CAGR till 2023. The global functional food ingredients market is further bifurcated by health benefits which includes bone health, heart health, nutrition, immunity, and others. Bone health segment marked the highest revenue share in functional food ingredients market in 2015. Rising number of cardiovascular diseases all across the globe is anticipated to expand the growth of heart health segment over the forecast period.

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